Fifth Third Bank Informative - Prior Reviews
I work for a large national financial institution, so I know a little bit about banking. I was reading reviews and made my way over to this Fifth Third page. It is amusing how all of these reviews are about people that have overdrawn their account and are angry they are being charged fees. All banks that I know of charge overdraft fees, even credit unions. I have relationships with 6 banks (3 of which I have checking accounts with), and if I were to overdraft my account or "Cut it too close" on the dates, I would expect an overdraft charge.
Some of the other reviews are about the "Grace period" First off, the grace period is something that is granted to you by the financial institution. I have been in the recovery side of the business, and for example, they can technically repo your car the day after your due date even though you are in your "Grace period"
I know that people only go online and vent when something is wrong, and never when they are happy or content with something. But it seems that the majority of the reviewers are people who obviously don't handle their money well or run into financial hardships and blame the bank. I personally make sure that there is money in the account prior to writing a check or making a payment online.
Another fun fact for you people that enjoy the grace period...Just about every auto loan is a simple interest loan, every day that you are in your grace period, you are going to owe additional interest at the end of your term. Granted, in most cases it is a small amount, but I have reviewed accounts in which someone was a month late for all 72 months so they received both a late fee and additional interest. This person had a $10K auto loan and after the 72 months, had an additional $4000 to pay the loan off because of the additional interest and penalties on top of the interest charged.
All in all, I just wish people would spend more time keeping their books as opposed to jumping online and blaming all of these banks for their problems.